Adept to Offer 2 Million New Shares
Adept
(ADTK)
said Friday it will offer an additional 2 million shares of its common stock for $18 a share.
The company, which designs and makes robots for manufacturing purposes, currently has 10.98 million outstanding shares.
The offering is managed by
Lehman Brothers
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and
U.S. Bancorp Piper Jaffray
. Adept has granted the underwriters a 30-day option to buy up to 300,000 additional shares of common stock, but only to cover any over-allotments.
Adept, based in San Jose, Calif., lost fell 88 cents, or 4.6%, to $18.38 in Friday
Nasdaq
trading.
